Iron ore dominates Rio Tinto H1 earnings

摘要

Melbourne—Iron ore was the major contributor to Rio Tinto’s financial performance over January-June, with demand for the raw material underpinned by China’s “resounding recovery” in steel demand, according to the Anglo-Australian company’s H1 2020 report on July 29. On an underlying EBITDA basis, iron ore accounted for around 77% of Rio’s total commodity group earnings of $10 billion. However, iron ore’s contribution was most apparent in underlying revenues in the half-year, where it accounted for almost 91%.